“...We develop a model of consumption and income that allows for pervasive heterogeneity in the parameters of both processes. Introducing codependence between...”

“...We present a novel structural estimation procedure for models of intertemporal allocation. This is based on modelling expectations errors directly; we refer to...”

“...There is strong evidence that house prices and consumption are synchronised. There is, however, disagreement over the causes of this link. This study examines...”

“...Most econometric schemes to allow for heterogeneity in micro behavior have two drawbacks: they do not fit the data and they rule out interesting economic...”

“...We present estimates of spending on children from a Danish expenditure survey which asks respondents directly about allocations of expenditures to individual...”

“...This paper provides an exhaustive characterization of testability and identifiability issues in the collective framework in the absence of price variation; it...”

“...Let S be the number of components in a finite discrete mixing distribution. We prove that the number of waves of panel being greater than or equal to 2S is a...”

“...A central implication of life-cycle models is that agents smooth consumption. We review the empirical evidence on smoothing at frequencies from within the year...”